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Henry Rotich, the Treasury Cabinet Secretary in Kenya, has introduced 10% excise duty on sports betting stakes.
“Betting has become quite spread and its expansion has had negative social effect particularly to the youth and vulnerable members of our society, and in order to curtail the negative effect arising from betting activities, I propose to introduce excise duty on betting activities at 10 percent at the amount staked,” Rotich said.
MPs who disagreed with the CS’s betting allocation has elicited reactions.
“I am disappointed of taxation, betting it has negative social effect for our young people and as National Assembly we suggested taxation should be 30 percent but today I was surprised the minister only increased by 10 percent, that will not cure the menace. Gambling has destroyed our society and we cannot continue raising our children through guess work. I am so unhappy with position of the minister where he has taxed only 10 percent… he should have taxed more as he did with beer and cigarettes,” Ndhiwa MP Martin Peters Owino said.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Kenya Introduces 10% Excise Duty on Sports Betting Stakes
